SEC moves to slash red tape, fees following Marcos’ order

The Securities and Exchange Commission (SEC) vows to comply with President Ferdinand Marcos Jr.’s directive to streamline its processes, aligning with the Marcos administration’s vision of an inclusive and efficient capital market that can help pave the way for a financially secure future for Filipinos.

- By JAMES A. LOYOLA

In his speech during the special bell-ringing ceremony to mark the effectivity of the Capital Markets Efficiency Promotion Act (CMEPA) last July 1, President Marcos directed the SEC to undertake the necessary changes to fulfill its responsibilities amid the changing times.

“I direct the Securities and Exchange Commission to streamline its procedures, remove bureaucratic bottlenecks, [and] reduce transaction costs within its control,” he said.